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Archive The Faber Report

  Tuesday, 8 May 2018 | 9:40 AM ET

CBS and Viacom talks remain in gridlock, say sources

CNBC's David Faber reports the latest progress on talks between CBS and Viacom. »Read more
  Wednesday, 2 May 2018 | 9:45 AM ET

Xerox, Fujifilm deal unravels

CNBC's David Faber reports the latest on Fujifilm's deal for Xerox including the resignation of Xerox CEO Jeffrey Jacobson, a win for activist Carl Icahn. »Read more
  Friday, 20 Apr 2018 | 10:43 AM ET

Xerox and Fujifilm said to be in 'active talks' about renegotiating deal

Xerox
Source: Xerox

Xerox and Fujifilm Holdings are in "active talks" to renegotiate a deal the two struck in January, according to remarks by their lawyers at a court hearing Thursday.

The $6.1 billion deal, which would combine Xerox into an existing joint venture with Fuji, drew opposition from prominent shareholders such as Darwin Deason, Xerox's largest individual shareholder, who sued in New York state court saying the deal undervalues the American copier and printing company.

Deason and fellow activist investor Carl Icahn have been fighting the deal, saying it unfairly favors Fuji.

But while the lawyers said in court that the two sides were in talks, it wasn't clear that they were going to be able to reach a new deal.

»Read more
  Friday, 20 Apr 2018 | 9:44 AM ET

Xerox, Fuji in active talks to renegotiate deal

CNBC's David Faber reports the latest details on the ongoing saga between Xerox and Fuji. »Read more
  Thursday, 19 Apr 2018 | 12:28 PM ET

Allergan will not bid for Shire: Sources

Brent Saunders, CEO, Allergan
Scott Mlyn | CNBC
Brent Saunders, CEO, Allergan

Allergan will not bid for Dublin-based Shire PLC, according to sources familiar with the situation.

Earlier Thursday Takeda Pharmaceutical revealed it made a roughly $60 billion takeover offer bid for Shire, which the drugmaker rejected.

Reuters then reported that Allergan was "also in competing negotiations" for Shire.

Allergan released a statement later in the morning which said the company "confirms that it is in the early stages of considering a possible offer for Shire plc ('Shire'). No offer has been made."

But it appears now it will not make an actual bid.

Allergan intraday chart

Allergan shares fell as much as 8.5 percent Thursday on the initial reports, but pared its losses to down 4 percent. Shire's stock is up 6 percent.

Update: Allergan later confirmed in a statement "it does not intend to make an offer for Shire."

»Read more
  Friday, 13 Apr 2018 | 9:41 AM ET

Qualcomm will refile with MOFCOM: Sources

Posted ByDavid Faber
CNBC's David Faber reports on Qualcomm's decision to pull and refile with the Ministry of Commerce of the People's Republic of China to buy out NXP Semiconductors. »Read more
  Wednesday, 11 Apr 2018 | 9:44 AM ET

Shari Redstone likely to replace Moonves if no deal: Sources

Posted ByDavid Faber
According to sources, Shari Redstone, CBS and Viacom vice chair, will move to fire CBS CEO Leslie Moonves as he attempts to impose his will on the management structure of a combined Viacom and CBS, reports CNBC's David Faber with the latest details on the battle to control the board. »Read more
  Wednesday, 11 Apr 2018 | 9:37 AM ET

The possible CBS-Viacom deal takes dramatic turn with Redstone threatening to replace Moonves if he doesn't play along

Shari Redstone, whose National Amusements controls CBS and Viacom, is likely to replace CBS CEO Les Moonves if a deal isn't reached between the two companies as the media tie-up hits an impasse, sources familiar with the situation said.

CBS is expected to make another offer soon, the sources said, but that new bid was expected to fall short on price. The amount of synergy expected by CBS is well below that of Viacom.

The main obstacle to the rejoining of the network and owner of Nickelodeon and MTV is a growing distrust between Redstone and Moonves. As CNBC previously reported, Moonves wants to pick his own management team if he is to head the combined entity and favors Joe Ianniello, chief operating officer of CBS, as his key lieutenant. Redstone, however, wants Bob Bakish, the current CEO of Viacom, as No. 2.

»Read more
  Monday, 9 Apr 2018 | 9:15 AM ET

Viacom asks for .68 ratio in counter to CBS bid: Sources

Posted ByDavid Faber
CNBC's David Faber has the update on the back and forth between Viacom and CBS. »Read more
  Thursday, 5 Apr 2018 | 9:43 AM ET

Faber Report: Deal danger ahead?

Posted ByDavid Faber
CNBC's David Faber reports on how companies are concerned by the regulatory environment right now as they consider mergers and acquisitions. »Read more